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After weeks of running battles on trade and currencies, G20 leaders on Thursday start what promises to be a stormy summit devoted to recalibrating huge distortions in the world economy.Bad blood between the world's 20 biggest rich and emerging nations has spilled over in the buildup to the two-day summit in Seoul, as China's dramatic growth kicks on and America endures a snail's paced recovery from recession.

The world's 20 biggest rich and emerging economies intensified a war of words hours before the start Thursday of a summit devoted to recalibrating huge distortions in the global economy.The summit's South Korean hosts said negotiators were far apart on how to address imbalances that have worsened as China's dramatic growth kicks on and America endures a snail-paced recovery from recession."Considerable differences remain concerning the issues of currencies and current account imbalances," G20 spokesman Kim Yoon-Kyung told reporters.

The world's 20 biggest rich and emerging economies intensified a war of words hours before the start Thursday of a summit devoted to recalibrating huge distortions in the global economy.The summit's South Korean hosts said negotiators were far apart on how to address imbalances that have worsened as China's dramatic growth kicks on and America endures a snail-paced recovery from recession."Considerable differences remain concerning the issues of currencies and current account imbalances," G20 spokesman Kim Yoon-Kyung told reporters.

Brisbane (Australia) (AFP) - Australia made a last ditch call Sunday for the G20's powerful leaders to use all policy levers to rehabilitate global economies and generate prosperity, which could see their target of two percent growth bettered.

Western officials should have realised this Summit would be different when they arrived in Seoul to find their phones and blackberrys didn't work. The problem was that Korea's nationwide 4G network was too advanced. On early negotiating missions, key UK officials found themselves communicating with London via gmail, on rented phones.
That was never a problem in Pittsburgh, or Toronto. But as George Osborne liked to point out, this was the first G20 Summit not hosted by a G8 country - and, he might have added, the first where G8 countries didn't call the tune.

MOSCOW – Financial leaders from the world’s 20 biggest economies may have promised not to devalue their currencies to help exports, but the pledge will do little to keep exchange rates stable.
While G20 finance ministers and central bank governors can promise not to devalue their currencies directly, there can be no guarantees while central banks are pumping money into economies to make them grow again.

Until now China had kept a relatively low profile on the Syria issue, occasionally issuing veiled support for the Assad regime. That changed at today's G-20 meeting in Russia, when China's vice-finance minister Zhu Guangyao officially launched the Syrian axis of Russia and China, both of which now indirectly support the Assad regime, and oppose US-led military intervention.

MOSCOW (Reuters) - The Group of 20 nations declared on Saturday there would be no currency war and deferred plans to set new debt-cutting targets, underlining broad concern about the fragile state of the world economy.